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Why a personal loan is better than a credit card

A personal loan has a set term and fixed repayment schedule. A personal loan usually has a lower rate than many credit cards. These reasons can make it better for people who have a debt and need to repay it or want to make a big purchase and pay it off.

If you have trouble paying off your credit card, maybe you need to try a personal loan?

Source: infochoice.com.au

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The comparison
rate is
based on a secured loan of $150,000 and a term of 25 years. WARNING: These comparison rates apply only
to
the example or examples given. Different amounts and terms will result in different comparison rates.
Costs
such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in
the
comparison rate but may influence the cost of the loan.Compare More
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